Tink of your money in three segments: “past, present and future.”
Spend some of it paying for the past (getting out of debt), use some to treat yourself in the present (to keep yourself from feeling deprived) and invest some for the future.
Invest wisely: Be prudent, but not too prudent. If you’re young, invest the bulk of your retirement in stocks, which tend to out- perform bonds. If you are closer to retirement, shift to stable- value funds.
Consider joining or starting an investment club: These meet
regularly, pool $25 to $100 per member per month, discuss investment strategies and collectively choose stocks to invest in as a group. Of the 8,600 clubs in the United States, about one-quarter are women-only, according to the nonprofit Better Investing. Learn more at BetterInvesting.org or ChicksLay-
ingNestEggs.com.
Think in thirds: Think of your money in three segments: “past, present and future.” Spend some of it paying for the past (get- ting out of debt), use some to treat yourself in the present (to keep yourself from feeling deprived) and invest some for the future.
Show gratitude: It is interesting what begins to happen when you start to say “Thank-you,” to people, observes financial ad- visor and workshop leader Rosemary Williams. Your employees work harder. Your banker might waive a fee or make a courtesy call to let you know an overdraft is pending. More importantly, it forces you to take stock of what you do have right now—and appreciate it.
Trust your instincts: If it doesn’t feel right, whether it’s an investment or a new business partnership, don’t do it. If it does feel right, do your homework first before making a decision.
Sources: Your Money or Your Life, by Vicki Robin, Women and Money, by Suze Orman, and Rosemary Williams, author of The Women’s Book of Money & Spiritual Vision
May 2010
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